80 FR 27432 - Culturally Significant Objects Imported for Exhibition Determinations: “Three Paintings by Johan Christian Dahl” Exhibition

DEPARTMENT OF STATE

Federal Register Volume 80, Issue 92 (May 13, 2015)

Page Range		27432-27432
FR Document		2015-11557

Notice is hereby given of the following Determinations: Pursuant to the authority vested in me by the Act of October 19, 1965 (79 Stat. 985; 22 U.S.C. 2459), Executive Order 12047 of March 27, 1978, the Foreign Affairs Reform and Restructuring Act of 1998 (112 Stat. 2681, et seq.; 22 U.S.C. 6501 note, et seq.), Delegation of Authority No. 234 of October 1, 1999, Delegation of Authority No. 236-3 of August 28, 2000 (and, as appropriate, Delegation of Authority No. 257 of April 15, 2003), I hereby determine that the objects to be included in the exhibition ``Three Paintings by Johan Christian Dahl,'' imported from abroad for temporary exhibition within the United States, are of cultural significance. The objects are imported pursuant to a loan agreement with the foreign owner or custodian. I also determine that the exhibition or display of the exhibit objects at The Metropolitan Museum of Art, New York, New York, from on or about June 1, 2015, until on or about June 30, 2016, and at possible additional exhibitions or venues yet to be determined, is in the national interest. I have ordered that Public Notice of these Determinations be published in the Federal Register.

Federal Register, Volume 80 Issue 92 (Wednesday, May 13, 2015)

[Federal Register Volume 80, Number 92 (Wednesday, May 13, 2015)]
[Notices]
[Page 27432]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-11557]


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DEPARTMENT OF STATE

[Public Notice 9132]


Culturally Significant Objects Imported for Exhibition 
Determinations: ``Three Paintings by Johan Christian Dahl'' Exhibition

SUMMARY: Notice is hereby given of the following Determinations: 
Pursuant to the authority vested in me by the Act of October 19, 1965 
(79 Stat. 985; 22 U.S.C. 2459), Executive Order 12047 of March 27, 
1978, the Foreign Affairs Reform and Restructuring Act of 1998 (112 
Stat. 2681, et seq.; 22 U.S.C. 6501 note, et seq.), Delegation of 
Authority No. 234 of October 1, 1999, Delegation of Authority No. 236-3 
of August 28, 2000 (and, as appropriate, Delegation of Authority No. 
257 of April 15, 2003), I hereby determine that the objects to be 
included in the exhibition ``Three Paintings by Johan Christian Dahl,'' 
imported from abroad for temporary exhibition within the United States, 
are of cultural significance. The objects are imported pursuant to a 
loan agreement with the foreign owner or custodian. I also determine 
that the exhibition or display of the exhibit objects at The 
Metropolitan Museum of Art, New York, New York, from on or about June 
1, 2015, until on or about June 30, 2016, and at possible additional 
exhibitions or venues yet to be determined, is in the national 
interest. I have ordered that Public Notice of these Determinations be 
published in the Federal Register.

FOR FURTHER INFORMATION CONTACT: For further information, including a 
list of the exhibit objects, contact the Office of Public Diplomacy and 
Public Affairs in the Office of the Legal Adviser, U.S. Department of 
State (telephone: 202-632-6471; email: section2459@state.gov). The 
mailing address is U.S. Department of State, L/PD, SA-5, Suite 5H03, 
Washington, DC 20522-0505.

    Dated: May 6, 2015.
Kelly Keiderling,
Principal Deputy Assistant Secretary, Bureau of Educational and 
Cultural Affairs, Department of State.
[FR Doc. 2015-11557 Filed 5-12-15; 8:45 am]
 BILLING CODE 4710-05-P

27432 Federal Register / Vol. 80, No. 92 / Wednesday, May 13, 2015 / Notices

financial health. Should OCC need to to assure the safeguarding of securities October 19, 1965 (79 Stat. 985; 22 U.S.C.
demand payment on a letter of credit and funds which are in the custody and 2459), Executive Order 12047 of March
deposited by a clearing member as a control of the clearing agency or for 27, 1978, the Foreign Affairs Reform and
margin asset, such as in the case of a which it is responsible.10 The rule Restructuring Act of 1998 (112 Stat.
clearing member default, it is less likely change, as proposed, should help ensure 2681, et seq.; 22 U.S.C. 6501 note, et
that the bank issuing such letter of the safeguarding of securities and funds seq.), Delegation of Authority No. 234 of
credit will not perform upon its which are in the custody and control of October 1, 1999, Delegation of Authority
payment commitment because the bank OCC, or for which OCC is responsible, No. 236–3 of August 28, 2000 (and, as
will be required to hold a greater because OCC will assess banks that appropriate, Delegation of Authority No.
amount of capital in order to be an OCC issue letters of credit to be deposited as 257 of April 15, 2003), I hereby
letter of credit bank. In turn, credit risk margin by clearing members using a determine that the objects to be
presented to OCC as a result of more conservative capital requirement. included in the exhibition ‘‘Three
accepting letters of credit as a form of This more conservative capital Paintings by Johan Christian Dahl,’’
margin asset is reduced.7 requirement thereby increases the imported from abroad for temporary
In light of the more universal likelihood that the bank will have the exhibition within the United States, are
acceptance of Tier 1 Capital for bank ability to honor a demand for payment of cultural significance. The objects are
financial reporting standards and the made by OCC. For the same reason, OCC imported pursuant to a loan agreement
potential to reduce the credit risk believes that the adoption of a more with the foreign owner or custodian. I
associated with the issuance of letters of conservative capital requirement for also determine that the exhibition or
credit, OCC is amending Rule 604, banks approved to issue letters of credit display of the exhibit objects at The
Interpretation and Policy .01, to that may be deposited by clearing Metropolitan Museum of Art, New York,
substitute Tier 1 Capital for members as a form of margin asset is New York, from on or about June 1,
shareholders’ equity. Pursuant to the consistent with the requirement of Rule 2015, until on or about June 30, 2016,
rule change, as approved, OCC is also 17Ad–22(d)(3), promulgated under the and at possible additional exhibitions or
adding paragraph ‘‘c’’ to Interpretation Act, which requires OCC hold assets in venues yet to be determined, is in the
and Policy .01 under Rule 604 to adopt a manner that minimizes risk of loss or national interest. I have ordered that
a definition of Tier 1 Capital that delay in access to them.11 Public Notice of these Determinations
leverages the definition of Tier 1 Capital be published in the Federal Register.
used by a bank’s regulatory agency. OCC III. Conclusion
FOR FURTHER INFORMATION CONTACT: For
believes that such a definition is On the basis of the foregoing, the further information, including a list of
appropriate given that OCC accepts Commission finds that the proposal is the exhibit objects, contact the Office of
letters of credit from banks regulated by consistent with the requirements of the Public Diplomacy and Public Affairs in
different regulatory authorities.8 In Act, and in particular, with the the Office of the Legal Adviser, U.S.
addition, OCC is making a conforming requirements of Section 17A of the Department of State (telephone: 202–
change to OCC Rule 604, Interpretation Act 12 and the rules and regulations 632–6471; email: section2459@
and Policy .04, so that any one bank thereunder. state.gov). The mailing address is U.S.
may not issue letters of credit for an It is therefore ordered, pursuant to Department of State, L/PD, SA–5, Suite
individual clearing member exceeding Section 19(b)(2) of the Act,13 that the 5H03, Washington, DC 20522–0505.
15% of the bank’s Tier 1 Capital proposed rule change (SR–OCC–2015–
Dated: May 6, 2015.
(instead of shareholders’ equity). 007) be, and it hereby is, approved.
Kelly Keiderling,
II. Discussion and Commission For the Commission, by the Division of
Principal Deputy Assistant Secretary, Bureau
Findings Trading and Markets, pursuant to delegated
of Educational and Cultural Affairs,
authority.14
Section 19(b)(2)(C) of the Act 9 directs Department of State.
Robert W. Errett,
the Commission to approve a proposed [FR Doc. 2015–11557 Filed 5–12–15; 8:45 am]
Deputy Secretary.
rule change of a self-regulatory BILLING CODE 4710–05–P
[FR Doc. 2015–11480 Filed 5–12–15; 8:45 am]
organization if it finds that the proposed
BILLING CODE 8011–01–P
rule change is consistent with the
requirements of the Act and the rules DEPARTMENT OF STATE
and regulations thereunder applicable to [Public Notice 9131]
such organization. DEPARTMENT OF STATE
The Commission finds that the [Public Notice 9132] In the Matter of the Review of the
proposed rule change is consistent with Designation of al-Qa’ida (and Other
Section 17A(b)(3)(F) of the Act, which Culturally Significant Objects Imported Aliases) as a Foreign Terrorist
requires, among other things, that the for Exhibition Determinations: ‘‘Three Organization Pursuant to Section 219
rules of a clearing agency are designed Paintings by Johan Christian Dahl’’ of the Immigration and Nationality Act
Exhibition
7 OCC does not anticipate that the proposed rule Based upon a review of the
change will impact any of the banks already SUMMARY: Notice is hereby given of the Administrative Record assembled in
approved to issue letters of credit that may be following Determinations: Pursuant to this matter pursuant to Section
deposited by clearing members as a form of margin the authority vested in me by the Act of 219(a)(4)(C) and (b) of the Immigration
asabaliauskas on DSK5VPTVN1PROD with NOTICES

since all such banks maintain amounts of Tier 1
Capital that exceed, as applicable, $100 million for
and Nationality Act, as amended (8
U.S. banks or $200 million for Non-U.S. banks.
10 15 U.S.C. 78q–1(b)(3)(F). U.S.C. 1189(a)(4)(C), (b)) (‘‘INA’’), and in
8 See OCC Rule 604(c). For example, OCC accepts 11 17 CFR 240.17Ad–22(d)(3). consultation with the Attorney General
12 In approving this proposed rule change, the
letters of credit issued by banks regulated by The and the Secretary of the Treasury, the
Federal Reserve Board, The Office of the Commission has considered the proposed rule’s
impact on efficiency, competition, and capital
Secretary of State concludes that the
Comptroller of the Currency, The Australian
Prudential Regulation Authority and The German formation. See 15 U.S.C. 78c(f). circumstances that were the basis for the
Federal Financial Supervisory Authority. 13 15 U.S.C. 78s(b)(2). 2009 decision to maintain the
9 15 U.S.C. 78s(b)(2)(C). 14 17 CFR 200.30–3(a)(12). designation of the aforementioned

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Document Created: 2015-12-16 07:47:11
Document Modified: 2015-12-16 07:47:11

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Contact		For further information, including a list of the exhibit objects, contact the Office of Public Diplomacy and Public Affairs in the Office of the Legal Adviser, U.S. Department of State (telephone: 202-632-6471; email: [email protected]). The
FR Citation		80 FR 27432